Wedbush Reiterates Neutral Rating for Tri Pointe Homes (NYSE:TPH)

Tri Pointe Homes (NYSE:TPH)‘s stock had its “neutral” rating restated by stock analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They presently have a $42.00 price objective on the construction company’s stock. Wedbush’s price objective points to a potential downside of 1.41% from the company’s current price.

Several other research firms have also recently commented on TPH. Oppenheimer raised their target price on Tri Pointe Homes from $54.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a report on Tuesday, September 17th. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.25.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH traded up $0.09 during trading on Thursday, reaching $42.60. 47,310 shares of the company traded hands, compared to its average volume of 897,591. The company’s 50 day moving average is $44.01 and its two-hundred day moving average is $40.81. The firm has a market capitalization of $3.99 billion, a PE ratio of 9.68, a PEG ratio of 0.70 and a beta of 1.59. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.16. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.07 billion. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. Tri Pointe Homes’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. As a group, sell-side analysts predict that Tri Pointe Homes will post 4.68 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Glenn J. Keeler sold 24,200 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the sale, the chief financial officer now owns 149,108 shares in the company, valued at approximately $6,882,825.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $46.16, for a total value of $1,117,072.00. Following the transaction, the chief financial officer now owns 149,108 shares of the company’s stock, valued at $6,882,825.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the transaction, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Trading of Tri Pointe Homes

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC bought a new stake in Tri Pointe Homes in the 1st quarter worth approximately $25,000. Gradient Investments LLC purchased a new stake in shares of Tri Pointe Homes in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC lifted its position in Tri Pointe Homes by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock valued at $57,000 after acquiring an additional 588 shares during the last quarter. Blue Trust Inc. increased its stake in Tri Pointe Homes by 31.7% during the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after purchasing an additional 427 shares in the last quarter. Finally, CWM LLC increased its stake in Tri Pointe Homes by 70.8% during the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock valued at $83,000 after purchasing an additional 920 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.